Sokoman Provides Exploration Update at Moosehead Gold Project, Central Newfoundland Drilling resumes with rigs at the South Pond and 463 Zone target areas

Sokoman Provides Exploration Update at Moosehead Gold Project, Central Newfoundland

Drilling resumes with rigs at the South Pond and 463 Zone target areas

St. John’s, NL, July 10, 2023 – Sokoman Minerals Corp. (TSXV: SIC) (OTCQB: SICNF) (“Sokoman” or

the “Company”) today provides the following update on the Moosehead project , including the re -

commencement of the 100,000 m+ Phase 6 diamond drilling program, proposed summer work plans, and

an update on the structural model.

Tim Froude, President and CEO of Sokoman says: “Several programs were active during a recent pause

in drilling including re -examining a large number of earlier holes to garner more structural and

mineralization details; re-visiting the structural model with Dr. Coller (ongoing); and reconnaissance-level

soil sampling over relatively unexplored areas of the property. We have also commenced a review of

historical geophysical surveys to pull additional targeting information from, as well as consideration of

possibly completing additional geophysics at Moosehead. We are truly excited by the ongoing work of Dr.

Coller who has defined the footwall environment as a prime target area for high -grade vein zones similar

to MH-22-463. This also explains several other historical “isolated” hits in the footwall that could never

really be properly explained or fit in with the model at the time.”

The summer diamond drilling program started on June 12 with two drill rigs.

Targets for the first drill include testing a potential extension of a high-grade shoot that plunges north from

the 75 Zone to where hole MH-21-263 intersected 4.80 m @12.86 g/t Au from 184.10 m. Three holes are

planned for this section and then the rig will move to South Pond, following up on previously reported

drilling including intersections in MH-20-123 (5.00 m @ 26.87 g/t Au) and MH-20-141 (4.20 m @ 64.00

g/t Au). The South Pond Zone remains open to depth . R ecent re -modeling of mineralized zones at

Moosehead suggests that the intersection in MH-21-344 (previously reported 2.27 g/t Au over 4.0 m

including 9.70 g/t Au over 0.50 m), may be linked to the South Pond Zone at depth. The intersection in

MH-21-344 is 200 m down plunge from the current modeled South Pond Zone. At least six holes totaling

1500 m -1800 m are proposed for the South Pond drilling.

Targets for the second drill rig include testing the down plunge and northern extensions of mineralization

in the 463 Zone area . This is where MH-22-463 returned 39.60 m @ 12.50 g/t Au including 10.5 m @

41.97 g/t Au (see December 15, 2022 press release), and where MH-23-519 intersected a 1.4-metre wide

zone of visible gold-bearing quartz veining that returned 12.41 g/t Au (from 409.75 m downhole) 56 m

down plunge from hole MH-22-463 and which remains open to the south and to depth (see April 13, 2023

press release). The initial drilling will test 20 m - 50 m below MH-23-519 with four to five holes totaling

2,000 m proposed for the 463 Zone target area. Additional drilling in the general footwall environment will

be proposed to the current 463 Zone depth of 450 m pending the results of the initial drilling.

Drill Plan Map

Diamond drilling and/or trenching (depending on overburden depth) will investigate other areas on the

property testing soil geochemical anomalies in the southwestern and northern portions of the property,

generated from winter sampling in proximity to the Valentine Lake Shear Zone which cuts through the

entire property. Gold in soil values ranging from less than detection (<5 ppb) up to 912 ppb Au were

returned three km southwest of the Eastern Trend where only sparse recon drilling has been completed, and

from less than detection (<5 ppb) to 279 ppb Au 1.7 km northeast of the Eastern Trend where no previous

drilling has taken place. For reference, the highest historical soil sample value found on the property was

425 ppb Au.

A revised structural interpretation has just been received from Dr. Coller who states, “The splitting out of

the veins and shears/faults makes the primary and deformed vein pattern visually much clearer and there is

an emerging significance of the vein trends in the footwall to the Eastern trend , which are highly oblique

to main shears. These are the 463 -type veins and a similar trending vein nearer surface. It was suggested

that these veins may be linkages between two shear structures which may be duplicated. Several large areas

with no drill testing relatively at shallow depths were identified.”

“On a large r scale, the gold mineralization at Moosehead appears to be associated with a NE-trending,

regional tectonic contact that lays to the south of the currently outlined vein system. The geological

interpretation of this contact is the Valentine Lake structure, a SE-dipping thrust/reverse fault (which could

be the structural hanging wall to the south ), and a SE-dipping gold vein system. This tectonic structure is

somewhat obscure in the magnetics, is not well defined on surface, and the limit of mineralization and

actual structural corridor requires further work to be defined.”

“It is believed that this type of structure, present at Moosehead, is similar to that seen at Newfound Gold’s

Queensway property where the veins dip opposite to the main fault. The Newfound Gold model could be a

useful structural template for the regional Moosehead system and a guide to regional drill spacing.”

QP

This news release has been reviewed and approved by Timothy Froude, P.Geo., a "Qualified Person" under

National Instrument 43-101 and President and CEO of Sokoman Minerals Corp.

About Sokoman Minerals Corp.

Sokoman Minerals Corp. is a discovery-oriented company with projects in the province of Newfoundland

and Labrador, Canada. The Company's primary focus is its portfolio of gold projects; the 100% flagship,

advanced-stage Moosehead, as well as Crippleback Lake (ava ilable for option); and East Alder along the

Central Newfoundland Gold Belt, and the district-scale Fleur de Lys project near Baie Verte in northwestern

Newfoundland, that is targeting Dalradian -type orogenic gold mineralization similar to the Curraghinalt

and Cavanacaw deposits in Northern Ireland. The Company also entered into a strategic alliance with

Benton Resources Inc. through three, large -scale, joint-venture properties including Grey River, Golden

Hope, and Kepenkeck in Newfoundland. Sokoman now co ntrols, independently and through the Benton

alliance, over 150,000 hectares (>6,000 claims – 1500 sq. km), making it one of the largest landholders in

Newfoundland, in Canada’s newest and rapidly -emerging gold districts. The Company also retains a 1%

NSR interest in an early-stage antimony/gold project (Startrek) in Newfoundland, optioned to Thunder Gold

Corp (formerly White Metal Resources Inc.), and in Labrador, the Company has a 100% interest in the Iron

Horse (Fe) project which has Direct Shipping Ore (DSO) potential.

Mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of

mineralization hosted on the Company's property.

The Company would like to thank the Government of Newfoundland and Labrador for past financial

support of the Moosehead Project through the Junior Exploration Assistance Program.

For further information, please contact:

Sokoman Minerals

Timothy Froude, P.Geo., President & CEO

Phone: 709-765-1726

Email: [email protected]

Cathy Hume, VP Corporate Development, Director

Phone: 416-868-1079 x251

Email: [email protected]

Website: www.sokomanmineralscorp.com

Twitter: @SokomanMinerals

Facebook: @SokomanMinerals

LinkedIn: @SokomanMinerals

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the

policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Investors are cautioned that trading in the securities of the Corporation should be considered highly

speculative. Except for historical information contained herein, this news release contains forward -

looking statements that involve risks and uncertainti es. Actual results may differ materially. Sokoman

Minerals Corp. will not update these forward-looking statements to reflect events or circumstances after

the date hereof. More detailed information about potential factors that could affect financial result s is

included in the documents filed from time to time with the Canadian securities regulatory authorities by

Sokoman Minerals Corp.